AIFC investment opportunities presented in Shanghai
The event was arranged by the AIFC delegation headed by Governor Kairat Kelimbetov jointly with the Kazakh Embassy to the People's Republic of China and the Samruk-Kazyna Sovereign Wealth Fund. It was attended by over 150 major representatives of Chinese investment, financial and banking (China Development Bank, CICC, China Construction Bank, etc.), brokerage, and business circles.
"We are opening a new stock exchange in the Astana International Financial Centre that will closely cooperate with two major world stock exchanges: the American high-technology stock exchange of Nasdaq exchange (it will provide technologies) and the Shanghai Stock Exchange (it will become the largest partner and joint shareholder of our exchange). We agreed that the Shanghai Stock Exchange will encourage the development of ties with Chinese business and the financial community. Therefore, the AIFC presented today its plans, investment opportunities in Kazakhstan, and organized the panel session where such national companies as Kazakhtelecom JSC, and private entities (ERG), answered the Chinese partners' questions," Mr. Kelimbetov told Kazinform.
According to him, Chinese investors showed a keen interest in Kazakhstan's investment climate and promising areas for cooperation.
"The Chinese bankers and investors have very actively supported the application of the English law in the AIFC and the establishment of the new stock exchange in Astana. In general, they showed a keen interest in the event. This year, the Shanghai Stock Exchange took over the chairmanship in the World Federation of Exchanges. It is the world's fourth-largest [exchange] in terms of capitalization, while Nasdaq is the third-largest one. Both exchanges regard the new exchange in Astana as the main stock exchange along the Silk Road and within the framework of "One Belt, One Road" initiative in Central Asia. As to investment, we are also attractive for the Silk Road Fund we are negotiating with," the AIFC Governor emphasized.
Recall that the AIFC will begin operations on 1st January 2018. In December 2015, President of Kazakhstan Nursultan Nazarbayev signed the Constitutional Law on the establishment of the Astana International Financial Centre (AIFC).
The purpose of the AIFC is to form a leading center of financial services of an international level. For the first time in the post-Soviet space, the principles of the English law will be introduced: the official language of the financial center will be English. AIFC aims to assist in attracting investments in the country's economy by creating an attractive environment for investing in financial services, developing the securities market of the Republic of Kazakhstan, ensuring its integration with international capital markets. AIFC also intends to develop in the country the market for insurance, banking services and the market for Islamic financing.
